RFEM vs. ALTY
RFEM (First Trust RiverFront Dynamic Emerging Markets ETF) and ALTY (Global X Alternative Income ETF) are both exchange-traded funds - RFEM is a Emerging Markets Equities fund actively managed by First Trust, while ALTY is a Global Allocation fund tracking the Indxx SuperDividend Alternatives Index. RFEM is actively managed, while ALTY is passively managed. Over the past 10 years, RFEM returned 9.73%/yr vs 6.15%/yr for ALTY. At a 0.49 correlation, their price movements are largely independent. RFEM charges 0.95%/yr vs 0.50%/yr for ALTY.
Performance
RFEM vs. ALTY - Performance Comparison
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Returns By Period
In the year-to-date period, RFEM achieves a 21.81% return, which is significantly higher than ALTY's 6.45% return. Over the past 10 years, RFEM has outperformed ALTY with an annualized return of 9.73%, while ALTY has yielded a comparatively lower 6.15% annualized return.
RFEM
- 1D
- 0.02%
- 1M
- 3.41%
- YTD
- 21.81%
- 6M
- 23.05%
- 1Y
- 42.44%
- 3Y*
- 24.04%
- 5Y*
- 9.58%
- 10Y*
- 9.73%
ALTY
- 1D
- -0.12%
- 1M
- 0.00%
- YTD
- 6.45%
- 6M
- 6.36%
- 1Y
- 15.24%
- 3Y*
- 11.73%
- 5Y*
- 5.51%
- 10Y*
- 6.15%
RFEM vs. ALTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RFEM First Trust RiverFront Dynamic Emerging Markets ETF | 21.81% | 27.71% | 10.85% | 20.78% | -19.05% | 0.97% | 8.19% | 20.33% | -18.80% | 35.73% |
ALTY Global X Alternative Income ETF | 6.45% | 11.07% | 10.88% | 10.58% | -11.92% | 23.08% | -12.82% | 21.44% | -6.18% | 10.82% |
Correlation
The correlation between RFEM and ALTY is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2016 | 0.49 |
The correlation between RFEM and ALTY has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.
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Return for Risk
RFEM vs. ALTY — Risk / Return Rank
RFEM
ALTY
RFEM vs. ALTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) and Global X Alternative Income ETF (ALTY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| RFEM | ALTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.51 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 3.53 | +0.13 |
| Martin ratioReturn relative to average drawdown | 14.41 | 16.24 | -1.83 |
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Drawdowns
RFEM vs. ALTY - Drawdown Comparison
The maximum RFEM drawdown since its inception was -42.22%, smaller than the maximum ALTY drawdown of -51.47%. Use the drawdown chart below to compare losses from any high point for RFEM and ALTY.
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Drawdown Indicators
| RFEM | ALTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.22% | -51.47% | +9.25% |
Max Drawdown (1Y)Largest decline over 1 year | -11.65% | -4.34% | -7.31% |
Max Drawdown (3Y)Largest decline over 3 years | -15.81% | -10.08% | -5.73% |
Max Drawdown (5Y)Largest decline over 5 years | -34.25% | -18.48% | -15.77% |
Max Drawdown (10Y)Largest decline over 10 years | -42.22% | -51.47% | +9.25% |
Current DrawdownCurrent decline from peak | -1.27% | -0.32% | -0.95% |
Average DrawdownAverage peak-to-trough decline | -11.93% | -6.72% | -5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 0.94% | +2.01% |
Volatility
RFEM vs. ALTY - Volatility Comparison
First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) has a higher volatility of 7.81% compared to Global X Alternative Income ETF (ALTY) at 1.56%. This indicates that RFEM's price experiences larger fluctuations and is considered to be riskier than ALTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFEM | ALTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.81% | 1.56% | +6.25% |
Volatility (6M)Calculated over the trailing 6-month period | 15.64% | 4.54% | +11.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.89% | 5.91% | +11.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.10% | 10.57% | +7.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.83% | 16.56% | +3.27% |
RFEM vs. ALTY - Expense Ratio Comparison
RFEM has a 0.95% expense ratio, which is higher than ALTY's 0.50% expense ratio.
Dividends
RFEM vs. ALTY - Dividend Comparison
RFEM's dividend yield for the trailing twelve months is around 1.67%, less than ALTY's 7.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALTY Global X Alternative Income ETF | 7.46% | 7.50% | 7.88% | 7.31% | 7.66% | 6.88% | 9.20% | 8.74% | 8.49% | 7.52% | 8.20% | 4.21% |
RFEM First Trust RiverFront Dynamic Emerging Markets ETF | 1.67% | 1.98% | 3.64% | 3.28% | 7.74% | 3.21% | 1.22% | 3.75% | 2.37% | 1.62% | 3.73% | 0.00% |
Frequently Asked Questions
RFEM and ALTY have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RFEM has higher volatility (7.81%) compared to ALTY (1.56%). In terms of maximum drawdown, RFEM dropped -42.22% vs ALTY's -51.47%.
On 10-year performance, RFEM leads with 9.73% vs 6.15% for ALTY. On fees, ALTY is cheaper at 0.50% per year. On volatility, ALTY has been the lower-risk option at 1.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RFEM has performed better with a 9.73% return vs 6.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ALTY is cheaper with a 0.50% expense ratio, compared with 0.95% for RFEM.
ALTY has the higher dividend yield at 7.46%, compared with 1.67% for RFEM.
RFEM is categorized as Emerging Markets Equities, while ALTY is Global Allocation. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.95% for RFEM and 0.50% for ALTY.
ALTY currently has the higher Sharpe Ratio (2.60 vs 2.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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